Income Tax Slabs & Rates for FY 2018-19 (AY 2019–20)

Income Tax Slabs & Rates for FY 2018-19 (AY 2019–20)

Budget 2018 has made no change in Income Tax Slab Rates for FY 2018-19 (AY 2019-20). Therefore, the applicable tax slabs will be as below.

Income Tax Slabs & Rates for FY 2018-19 (AY 2019–20)

Income Tax Slabs for Individual Taxpayers
Income Tax Slab	Income Tax Rate
Income upto Rs. 2,50,000	Nil
Income between Rs. 2,50,001 - Rs. 500,000	5%
Income between Rs. 500,001 - Rs. 10,00,000	20%
Income above Rs. 10,00,000	30%
Income Tax Slabs for Senior Citizens (Age 60 years or more but less than 80 years)
Income Tax Slab	Income Tax Rate
Income upto Rs. 3,00,000	Nil
Income between Rs. 3,00,001 - Rs. 500,000	5%
Income between Rs. 500,001 - Rs. 10,00,000	20%
Income above Rs. 10,00,000	30%
Income Tax Slabs for Senior Citizens (Age 80 years or more)
Income Tax Slab	Income Tax Rate
Income upto Rs. 5,00,000	Nil
Income between Rs. 500,001 - Rs. 10,00,000	20%
Income above Rs. 10,00,000	30%

Surcharges and Cess

>10% surcharge is applicable on income tax if the total income exceeds Rs. 50 lakhs but below 1 crore.

 >15% surcharge is applicable on income tax if the total income exceeds Rs 1 crore.

>2% Education cess, 1% Secondary and Higher Education Cess and 1% Health Cess is applicable on the income tax and applicable surcharge.

** For individuals whose income is equal to or less than Rs 3.5 lakh, a tax rebate of Rs. 2,500 or 100% of income tax (whichever is lower) is available under section 87A.

** There is no separate tax slab for men and women.

Also read: Income Tax Slabs & Rates for FY 2017-18 (AY 2018-19)

Also read: 10 Tax saving options other than Section 80C

Also read: How to apply for duplicate PAN card | Reprint PAN card online?
Also read: Aaykar Setu App - An App by Income Tax Department 

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Income Tax Slabs & Rates for FY 2018-19 (AY 2019–20)